Lasting Powers of Attorney
Exclusive offer for St. James’s Place
Save money on Property and Finance LPAs
For a limited period, our LPA (Property and Finance & Welfare) will be available at the exclusive rate to SJP Partners and their clients:
- For a Financial or Welfare Lasting Power of Attorney (for one person) – £333.33 plus vat
- For a Financial and Welfare Lasting Power of Attorney (for the same person) – £508.33 plus vat
- For Mirror Lasting Powers of Attorney for a couple, either Financial or Welfare – £508.33 plus vat
- For Mirror Lasting Powers of Attorney for a couple, both Financial and Welfare – £908.33 plus vat
These fees include the registration of the LPA at the Court of Protection so that it is available for use as soon as it is needed.
Court fees of £82 per LPA (both Financial and Welfare) are not included and are payable in addition to the Court on registration.
|If you complete the LPA questionnaire and take your fee||£58.33 plus VAT|
|If you complete the questionnaire but decide to waive your fee (The client will receive a £58.33 plus VAT reduction in the fees shown above)||Nil|
|If you do not complete the questionnaire (No reduction in the fee shown above)||Nil|
What is an LPA?
A Lasting Power of Attorney (LPA) is a legal document that sets out your client’s wishes for the future with regards to their property, finances and health. It gives a person (or persons) of your client’s choice the power to deal with your client’s affairs if they become unable to do so for some reason. This may be through loss of mental capacity, illness or injury.
There are two types of LPA:
- LPA for Property and Financial Affairs; and
- LPA for Health and Welfare.
Why is an LPA important?
Without an LPA, your client would be unable to provide you with instructions with regard to their funds under management if they are found to no longer have the capacity to do so. In this situation, a deputyship application would be needed. This is a lengthy and expensive process and your client’s finances would be in limbo until it is completed.
For further information on LPAs and how they can be an integral part of your client’s estate, please click here.
How does it work?
To begin the process, you will need to complete the LPA Questionnaire which is on the St. James’s Place intranet. Alternatively, we can arrange for the completion of this but no referral fee is then payable. You will need to be satisfied that the clients have capacity to make an LPA. If there is any doubt about their capacity a medical opinion will be needed prior to sending us the questionnaire. Once you have completed and sent us the referral form, we will then issue the client with our engagement letter and when they confirm instructions will prepare the papers and send them to the client with advice to ensure that they understand the implications of the power they are giving.
Once all of the documents are complete and have been signed by all parties, we will submit the LPA to the Court for registration. The registration process usually takes around three months.
We will be happy to meet with the clients to discuss any other estate planning matters that may be relevant.
For more information, please click here or get in touch.